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IEA forecasts global oil demand to reach 101.6 mb/d in 2023; non-OECD countries lead expansion

Green Car Congress

Assuming Libya rebounds from a steep drop, the bloc’s production could increase 2.6 OECD industry stocks also rose, by 42.5 At 2,669 mb, OECD industry stocks were nevertheless 290.3 OECD industry stocks of middle distillates have fallen by 25% since January 2021 to their lowest levels since 2004. mb/d in 2022 and 1.8

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Platts Survey: OPEC pumps 31.28M barrels of crude per day in June; highest since Aug 2012

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million barrels per day (b/d) in June, up 170,000 b/d from May and the fourth consecutive monthly increase since February, as Saudi Arabia and Iraq pushed out more oil, a Platts survey of OPEC and oil industry officials and analysts showed Monday. As well as Basrah Light, Iraq is now exporting the newly-introduced Basrah Heavy crude oil.

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Platts: June OPEC output of 32.73M barrels of crude per day, highest since Aug. 2008

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million b/d, as production in Nigeria and Libya tentatively recovered along with steady increases for Saudi Arabia and Iran, according to an S&P Global Platts survey of OPEC and oil industry officials. The Persian Gulf producer has been reclaiming its market share and broadening its customer base.

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Europe Expands Virtual Borders To Thwart Migrants

Cars That Think

It was after midnight in the Maltese search-and-rescue zone of the Mediterranean when a rubber boat originating from Libya carrying dozens of migrants encountered a hulking cargo ship from Madeira and a European military aircraft. The ship’s captain stopped the engines, and the aircraft flashed its lights at the rubber boat.

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Opinion: How Much Longer Can OPEC Hold Out?

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With its headquarters in Vienna, Austria, one of the mandates of 12-member OPEC is to “ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry.” Source: opec.org).

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Increase in US rig count will not cap oil prices

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The impact of rising oil prices on North American light tight oil (LTO) production is said to be a “Catch 22”, the title of Joseph Heller’s popular 1961 novel set in WWII. He has been writing about the upstream oil and gas industry and energy policy and issues since 1979. by David Yager for Oilprice.com.

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EV myths busted: Are electric vehicles actually good for the environment?

Drive Electric

ICEVs have been around for a while, and although they’ve had the time to perfect their manufacturing process and we’ve seen increased pressure on the importance of fuel economy and emissions, the thermal efficiency of the average light vehicle engine remains between 20-35%, and we’re not seeing much improvement beyond this.